Reinsurance Group of America, Incorporated Announces Private Stock Repurchase, Expectation to Repurchase Additional Shares
ST. LOUIS, Feb 16, 2011 (BUSINESS WIRE) -- Reinsurance Group of America, Incorporated ("RGA") (NYSE: RGA) purchased 3.0 million shares of RGA common stock from MetLife, Inc. at a price of $61.14 per share on February 15, 2011. Further, RGA expects to repurchase up to 2.6 million additional shares of common stock, which may include an accelerated stock repurchase program, subsequent to completion of the announced redemption of the warrants associated with the company's Trust Preferred Income Equity Redeemable Securities ("PIERS Units"). The company's share repurchase transactions are intended to offset share dilution associated with the redemption of its PIERS Units.
Reinsurance Group of America, Incorporated is among the largest global providers of life reinsurance, with subsidiary companies or offices in Australia, Barbados, Bermuda, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Mexico, the Netherlands, Poland, South Africa, South Korea, Spain, Taiwan, the United Kingdom and the United States. At December 31, 2010, the company had approximately $2.5 trillion of worldwide life reinsurance in force and assets of $29.1 billion.
SOURCE: Reinsurance Group of America, Incorporated ("RGA")
Reinsurance Group of America, Incorporated
John W. Hayden, 636-736-7000
Senior Vice President - Controller and Investor Relations